Cement: Mar-2025 Local dispatches decline 11% YoY - By JS Research
Apr 10 2025
JS Global Capital
- Cement dispatches for Mar-2025 clocked in at 3.6mn tons, reflecting a 9% YoY decline, primarily due to an 11% drop in local dispatches in both the North and South regions amid Ramadan season. While export dispatches remained relatively flat YoY during the month as a 23% YoY increase in Southern exports was offset by an 85% decline in North exports.
- Cement prices in the North region continued their upward trend during the month, rising by Rs50–60/bag to approximately Rs1,400/bag – taking the cumulative increase to approximately Rs90/bag.
- Additionally, the government’s announced power tariff reduction of Rs7.59/unit is expected to benefit grid-reliant players such as FCCL, KOHC, and ACPL having an impact of 6.8%, 4.6% and 8.6% on FY26E EPS.